Latest News
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Cyber-attacks on the rise for medium-size companies
Virginia Harrison | November 4, 2010
Cyber-attacks on medium-size companies are growing and most organisations fear a serious data breach would put them out of business.
The global report by digital security company McAfee found more than half of the mid-size companies surveyed saw an increase in security incidents in the past year.
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Business credit demand falls
Virginia Harrison | November 3, 2010
SMEs remain reluctant to take on credit but there are some indications that lending appetites on track to reach pre-GFC levels.
The Veda Advantage Business Credit Demand Index fell 5.7 per cent in the last quarter on a year earlier. “Given the high cost of raising capital in the current market, many small to medium sized businesses are focusing on cost containment and growing existing business, rather than embarking on aggressive new customer acquisition strategies and other forms of business innovation,” Hamish Osborn, Head of Commercial Risk at Veda Advantage said.
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Carbon cleansing – tips for SMEs on turning green
Virginia Harrison | November 3, 2010Thinking about shifting your business into carbon neutral but not sure where to start?
Pressure on big companies to take responsibility for their impact on the environment has resulted in a swelling of the carbon neutral club, with the National Australia Bank one of the latest companies to join the ranks. But business insights firm Dun & Bradstreet says this kind of corporate responsibility isn’t just for the top end of town.
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RBA shocks with Melbourne Cup rate rise
Virginia Harrison | November 2, 2010The Reserve Bank has delivered a surprise blow to borrowers by raising interest rates for the first time since May.
The central bank lifted the official cash rate by a quarter of a per cent to 4.75 per cent. Most economists had tipped the RBA would leave rates unchanged in November after the release of soft inflation figures last week.
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Medium-size enterprises tougher than the rest
Virginia Harrison | October 29, 2010
Medium-sized enterprises demonstrated the highest survival rates during the economic downturn according to the latest report from the Australian Bureau of Statistics (ABS).
Fewer new businesses were registered last year, to bring the number of actively trading enterprises in Australia down by 1 per cent. Australia has more than 2 million registered businesses. Medium-size enterprises held steady at 4 per cent of all actively trading businesses.
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Success without profit – the business of giving
Virginia Harrison | October 29, 2010BIG on heart but light on funds, the not-for-profit sector faces a unique set of survival challenges. Find out how Margaret Flynn turned a $3,000 budget into revenues of more than $10 million and helped thousands of people in the process.
Flynn is the CEO of CentaCare Wilcannia-Forbes, an organisation which provides communities with counselling, youth and family support, and work-based education and training programs. It services around 200,000 people in western NSW, scattered across an area than spans more than half of the state.
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Fresh challenges require smart strategies for business growth
Virginia Harrison | October 29, 2010ACCESS to finance and currency fears are among the key concerns for businesses as they seek to drive growth and position for an economic upturn.
The Australian Industry/Deloitte Private survey Growth Strategies for Business found improving market share, forming alliances and taking part in mergers are the leading strategies businesses are implementing for growth.
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New time calls for new rules – First 5000 puts the individual back in business
Peter Fritz | October 25, 2010When I was a child I must have hated authority. It might have been because I was brought up in a Communist country where authority was pervasive.
I never wanted to be run by anybody but myself and that has stayed with me.
I believe people should not have to ask permission to do things, or to have their thoughts filtered through others. In Australia we have a democratic framework which allows people to live their lives more or less the way they want to.
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First 5000 & the NSW economy
Barry Buffier | October 25, 2010On Wednesday 20 October 2010 I had the pleasure of being invited to say a few words at the launch of First 5000.
I was actually standing in for the Minister for Small Business Frank Terenzini, who had to attend to some urgent business at the last minute. It was a great pleasure, because First 5000 ties in perfectly with my normal role.
This blog is based on the address I gave on the day.
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Uncategorised
Middle Business Syndrome
Virginia Harrison | October 19, 2010
Australia is suffering from a clear case of middle-business syndrome. A highly-profitable but largely disconnected segment of the economic landscape exists without a united voice, or space to engage with one another.Small business is often described as the engine room of the Australian economy, while large corporations wield their own brand of power. Both groups enjoy strong united voices that shape policy decisions.
But what lies the middle? Wedged in between these two well-represented groups is an often overlooked slice of the business landscape.
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Medium Enterprises to lead productivity boom through innovation
Virginia Harrison | October 19, 2010
Mid-size companies hold the key to boost Australia’s innovation record and narrow the global productivity gap, according to top-ranking economic official. Jonathan Coppel is the economic counselor to the Secretary-General of the Organisation of Economic Development (OECD), a role which contains a particular focus on preparing the OECD’s contributions to the G20.
He said the small and medium-sized enterprises are “squarely on the G20 agenda”.
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UPDATE: Don’t ignore the power of direct mail
Virginia Harrison | October 19, 2010When was the last time you hand-wrote a letter?
As we become increasingly tied to our computer and mobile screens, it’s easy to overlook traditional means of communication in favour of the instantaneous and often cheaper digital alternatives.
But commercial insights firm Dun & Bradstreet warns businesses not to ignore direct mail in their marketing strategies.
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Tax breaks not the recipe for economic growth
Virginia Harrison | October 19, 2010
MEDIUM-size enterprises are the poor cousins of big business with little policy influence, despite their powerful productive capacity.Professor Beth Walker from Edith Cowan University (ECU) School of Management argues both sides of politics have failed on business policy. Perhaps it’s time for a medium-enterprise caucus.
“Neither side had any policy this election. They always talk about reducing the tax rate, but it’s such a tiny amount for most businesses. It doesn’t add up to much. They talk about putting in some small incentive. None of them came up with any new initiatives about how to get more productivity.” She said.
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Getting old gracefully: how to prepare for the ageing workforce
Virginia Harrison | October 19, 2010
BUSINESSES are in a race against time as more workers enter retirement and leave companies parched of skills, experience and resources. Managing Director of Adrian Walsh & Associates Adrian Walsh has provided human resources, consulting and business development services to the mid-size market for more than 20 years.
He says employers underestimate the threat the ageing population will have on their business.
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Beware the inside job
Virginia Harrison | October 19, 2010
Smaller businesses face a much higher chance of employee fraud than large organisations. Forensic accountant Arnold Shields tells how companies can minimise the risk of an inside job.
The $20 million embezzlement by a former accountant of Clive Peeters which brought the electronics retailer to its knees sounded a fresh warning to management on fraud controls.
